Description
Global Agriculture Pumps Market Analysis and Forecast Report 2030
Global Agriculture Pumps Market to surpass USD 7.3 billion by 2030 from USD 4.89 billion in 2020 at a CAGR of 8.66 % in the coming years, i.e., 2021-30.
Product overview
Agricultural pumps are called mechanical systems that are used by creating appropriate pressure heads for the transport of material from one destination to another. They are used to address the requirements of farmers and keep production higher. They are also widely used irrigation of crops requiring enormous amounts of water. A pump is a device that moves water or fluids by mechanical operation. It is designed for agricultural use. It transports water through pipes from sources such as bore wells, dams, rivers, and storage facilities for various uses such as irrigation, drainage, flood control, water circulation, water waste treatment, and water supply. They are used to maintain greater agricultural productivity and meet farmer’s needs.
Market Highlights
Global Agriculture Pumps market is expected to project a notable CAGR of 8.66% in 2030.
The main driving force behind the growth is the increasing adoption of modern irrigation techniques that have been replacing the traditional farming techniques due to the growing food demand and labor costs in developing countries. The government support in adoption of the same is also expected to help the market in growing significantly. Increased pressure for food supplies in the world as a result of increasing population, significant savings on smart farming techniques, and government initiatives to adopt advanced agricultural technology. The increasing need for an optimal crop production with scarce funds gives it tremendous popularity among farmers.
Global Agriculture Pumps Market: Segments
Centrifugal Pumps segment to grow with the highest CAGR during 2020-30
On the basis of type, it can be divided into centrifugal pumps and displacement pumps. The centrifugal pumps dominate the market and had the highest market revenue in the year 2021. Use of renewable energy centrifugal pumps can decrease the operation cost of pumps to zero boosting the market growth.
Irrigation segment to grow with the highest CAGR during 2020-30
On the application basis, it can be further divided into irrigation, agricultural vehicles, agricultural machinery, and others. Irrigation had the highest revenue and is expected to grow the highest in the forecasted period due to its high usage in basic farming techniques.
Solar segment to grow with the highest CAGR during 2020-30
On the power source basis, it can be further divided into Electricity-grid Connection, Diesel/Petrol, and Solar. Solar pumps operate on the process of converting solar energy to electricity by thermal energy obtained from sunlight or photovoltaic panels. These pumps do not depend on diesel or electricity and thus improve efficiency and productivity. These pumps do not create problems such as damage to feeders, supply reductions, price increases, etc. More than all other powered pumps that have seen tremendous growth in the global solar pump market, solar pumps have a minimum environmental impact.
Market Dynamics
Drivers
Increasing population and rising income to increase market growth
The increasing population and rising income of farmers globally is expected to drive the growth of this market as farmers are shifting from traditional to modern agricultural techniques such as usage of smart pumps. Smart pumps are controlled with special pump controllers that help in optimal utilization of resources. Another factor is the growing demand of energy-efficient solar pumps that utilize photovoltaic cells in the generation of electricity. The low maintenance cost of solar pumps and automatic stop and smart functions are the reasons for their growing demand.
Drive towards modern technique
The main driving force behind the growth is the increasing adoption of modern irrigation techniques that have been replacing the traditional farming techniques due to the growing food demand and labor costs in developing countries. The government support in the adoption of the same is also expected to help the market in growing significantly., increased pressure for food supplies in the world as a result of increasing population, significant savings on smart farming techniques, and government initiatives to adopt advanced agricultural technology. The increasing need for an optimal crop production with scarce funds gives it tremendous popularity among farmers.
Restraint
High maintenance cost to act as a restraint in the agricultural pump market
Agricultural pumps require a high maintenance cost and that is the major restraint in the agricultural pump market. Operations in fragmented landholdings also hinder the growth process of this market.
Global Agriculture Pumps Market: Key players
Franklin Electric
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Wilo SE
The Kirloskar Group
Haicheng surpasuny pump
Grundfos
Falcon Pumps Pvt. Ltd.
Sulzer Ltd.
KSB SE & Co.
The Flowserve Corporation
Cornell pump company
Walrus Pump
The Gorman-Rupp Company
Other Prominent Players
Global Agriculture Pumps Market: Regions
Global Agriculture Pumps market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East, and Africa. Global Agriculture Pumps in North America held the largest market share of XX.X% in the year 2021. In 2020, America accounted for the greatest share of the agricultural pumps market. North America is estimated to hold a significant share of this market due to the prominent, well-established key players in the region and developments in agriculture over the years. The variable speed technology of the agriculture pump sets in North America offers more energy efficient features to carry out irrigation. The APAC region is also forecasted to show significant growth in the sector in the forecasted period due to the growing demand of agricultural pump sets in developing economies such as India, China, and Japan.
Global Agriculture Pumps Market is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA
Global Agriculture Pumps Market report also contains analysis on:
Agriculture Pumps Market Segments:
By Product Type
Centrifugal Pumps
Deployment Pumps
By Applications
Irrigation
Agricultural vehicles
Agricultural machinery
Others
By Power Source
Electricity-grid Connection
Diesel/Petrol
Solar
Agriculture Pumps Market Dynamics
Agriculture Pumps Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints
Agriculture Pumps Market Report Scope and Segmentation
Frequently Asked Questions
How big is the Agriculture Pumps market?
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What are the factors driving the Agriculture Pumps market?
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